When it comes to choosing the right EFTPOS system for your business, there are several features you should consider. Don’t just choose the first EFTPOS system you find because you may not get value for money. What’s more, you might not get all the features you need. Here are some of the features you should look out for when switching to an EFTPOS system in 2023:
1. Security: Cybersecurity is a top priority for Australian businesses nowadays, so make sure the new EFTPOS system has up-to-date security features that protect your customers from cyberattacks and identity theft. Look for systems with advanced encryption technology, secure authentication, and fraud monitoring capabilities.
2. Process Speed: A slow EFTPOS process could mean lost business and frustrated customers, so consider the speed of payment processing when switching. Look for EFTPOS solutions that offer quick and seamless payment processes with low transaction fees.
3. Compatibility: Does the system you’re considering integrate easily with your existing software suite? Make sure the new EFTPOS solution will work smoothly with the other programs you use in-store, such as inventory tracking or loyalty programs. Otherwise, you’ll have to change all of those too.
4. Terminal Design: Depending on your business, you may need a light and compact design that’s easy to use in tight spaces or a rugged model that can stand up to wear and tear in environments such as hospitality venues or retail stores.
5. Data Security: Your customer’s financial data should remain secure when using your EFTPOS terminal. Choose an option that is compliant with the latest security protocols, such as PCI DSS (Payment Card Industry Data Security Standard) and EMV (Europay Mastercard Visa). Not having this can not only make people feel nervous about purchasing from you but also leave you exposed to fraud and cybercrime.
6. Payment Types: Make sure you choose a system that supports all the payment types you need. For example, if you want to accept contactless payments, make sure the EFTPOS terminal you select has this feature. Additionally, if you want to include loyalty points or offer cashback options, check that these features are available. A modern EFTPOS machine and system will also accept payments from smart devices like Apple Pay and Google Wallet.
7. Connection Options: Depending on your business’s needs, you could opt for a wireless connection such as Wi-Fi or Bluetooth. This is suitable for smaller businesses that want to minimise cable clutter and save on cabling costs. If you’re looking for a more secure solution, consider Ethernet-connected terminals.
8. Compliance: Before purchasing an EFTPOS terminal, it’s essential to check that the system meets industry standards and is compliant with your preferred processor. This will ensure that all of your credit card transactions are secure.
9. Tracking: When choosing an EFTPOS terminal for your business, make sure to consider the tracking features. Many modern terminals offer detailed reports that can be used to track sales and customer behaviour. This will give you valuable insights into your business operations, allowing you to make better decisions and boost efficiency.
10. Maintenance: Finally, check the maintenance packages offered by your preferred EFTPOS supplier. Many will offer regular maintenance and software updates to ensure that your system remains up-to-date and secure. Make sure to research your options before making a decision, as this could help you save money in the long run.
With the right EFTPOS machine, you can run a happy and successful business for many years to come!